FRANKFURT (Reuters) – Germany’s Merck on Wednesday said its Life Science business, a leading maker of biotech lab supplies and gear, saw core earnings jump more than 43% in the first quarter, driven by the pharma industry’s efforts to fight the coronavirus pandemic.
Adjusted earnings before interest, tax, depreciation and amortization at the division rose to 793 million euros ($961 million).
The company, which also makes pharmaceuticals and specialty chemicals, on May 4 reported better-than-expected quarterly earnings for the group ahead of schedule.
At the time it said it expected 2021 adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 5.4-5.8 billion euros, up from 5.2 billion last year. It reaffirmed that guidance on Wednesday.
(Reporting by Ludwig Burger; Editing by Riham Alkousaa)